Crisil monitoring report: IPO proceeds used as per Offer Document, no deviation, Sept 2026 quarter
Swastika Infra has shared Crisil Ratings' Monitoring Agency Report on how its IPO money was used in the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- Issue size
- Rs. 12,850.00 lakhs
- Issue expenses
- 1,911.19 (Rs in lakhs)
- Net Proceeds
- 10,938.81 (Rs in lakhs)
Swastika Infra Ltd has submitted the Monitoring Agency Report prepared by Crisil Ratings Limited for the quarter ended September 30, 2026. This report covers how the money raised in the company's Initial Public Offering (IPO) has been used.
The issue and the money
- Issue size: Rs. 12,850.00 lakhs, comprising Equity Shares under an Initial Public Offer.
- Gross proceeds of the Fresh Issue: 12,850.00 (Rs in lakhs).
- Less: Issue Expenses: 1,911.19 (Rs in lakhs).
- Net Proceeds: 10,938.81 (Rs in lakhs).
- Crisil Ratings shall be monitoring the gross proceeds.
What the monitoring agency reports
- Whether all utilization is as per the disclosures in the Offer Document: Yes
- Deviation from the objects: Not applicable, and Range of Deviation: Not applicable
- The monitoring agency's comment says the proceeds were utilized towards issue expenses.
- Comments of the Board of Directors: No comments.
What the agency relied on
It based the report on a peer-reviewed Independent Chartered Accountant Certificate, a Management undertaking, the Prospectus dated September 25, 2026 (referred to as the Offer document) and Bank Statements.
Basic issue details
- Issue period: September 23, 2026, to September 25, 2026.
- Type of issue: Initial Public Offer of Equity Shares.
- Industry/sector: Power Transmission & Distribution EPC Sector.
- IPO Grading: NA.
Points the agency itself flags
The monitoring agency states that it does not perform an audit and undertakes no independent verification of the information or certificates it receives. It also notes that the sections under "Comments of the Board of Directors" are captured by the issuer's Management or Audit Committee and have not been reviewed by the agency.
In simple terms
For a company that has just completed an IPO, a monitoring agency checks every quarter whether the money collected was used the way the offer document said it would be, and reports any deviation. Here, the report records no deviation and says utilisation was as per the Offer Document, with the proceeds used towards issue expenses.
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More numbers
- Issue sizeRs. 12,850.00 lakhs
- Gross proceeds of the Fresh Issue (Rs in lakhs)12,850.00
- Less: Issue Expenses (Rs in lakhs)1,911.19
- Net Proceeds (Rs in lakhs)10,938.81
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